|
_---
<br />r
<br />
<br />4. That should he tail to pay any sw~s or xeep any covenant provided far in this
<br />!~'sr*_s~ge, t3?en tAe E~rtga~e, at its option, may pay or perform the same, and all
<br />expenditures so ~€asle sfia11 be added L4 the principal sum awing an Lhe above note, shall
<br />be secured hereby, and shall bear interest at the rate set forth in the said note, until
<br />paid,
<br />;, That he hereby assigns, transfers and sets over to the Mortgagee, to be applied
<br />toward the payment of the note and ail sums secured hereby in case of a default in the
<br />perfors~ance of any of the terms and conditions of this tortgage or the said note, all
<br />the rents, revenues and income to be derived from the mortgaged premises during such
<br />time as the r,~rtgage indebtedness shall ren?ain unpaid; and the tMortgagee shall have
<br />pa3rer to appoint any agent or agents it may desire for the purpose of repairing said
<br />premises and of renting the same and collecting the rents, revenues and income, and it
<br />may pay out of said incomes all expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting and managing the same and of collecting
<br />rentals therefrom; the balance remaining, if any, to be applied toward the discharge of
<br />said mortgage indebtedness.
<br />b. That he will keep the improvements now existing or hereafter erected on the
<br />rtxrrtgaeed property, insured as may be required from time to time by the t~rtgagee
<br />against loss by fire and other hazards, casualties and contingencies in such amounts
<br />and for such periods as may be required by the Mortgagee and will pay Rromptty, when due,
<br />any premiums on such insurance provision for payment of which has not been made herein-
<br />before. Ali insurance shall be carried in companies approved by the Mortgagee and the
<br />policies and renewals thereof shall be held by the Mortgagee and have attached therets?
<br />loss payable clauses in favor of and in form acceptable to the Mortgagee. In event at
<br />lass Piortgagar will give immediate notice by mail to the Mortgagee, who may make proof
<br />of loss if not made promptly by Mortgagor, and each insurance company concerned is
<br />hereby authorized and directed to make payment for such loss directly to the Mortgagee
<br />instead of to the Mortgagor and the ?Mortgagee jointly, and the insurance proceeds, ar
<br />any part thereof, may be applied by the Mortgagee at its option either to the reduction
<br />of the indebtedness hereby secured or to the restoration or repair of the property
<br />damaged. In event of foreclosure of this mortgage ar other transfer of title to fife
<br />mortgaged prooerty in extinguishment of the indebtedness secured hereby, all ri~~t,
<br />title and interest of the Mortgagor in and to any insurance policies then rn farce sn-°1
<br />pass to the purchaser or grantee.
<br />7. That as additional and collateral security for trl~ t of t~ a=Yte ~=_~"`~#
<br />to =-
<br />and all sums to become due under this martga~,e, the r_zr hey ass:,°~
<br />Mortgagee all profits, revenues, royalties, rights and benefits accrul:rg to ti+e
<br />~- _ V '~--' - =t :rte rise r-. ~~,.
<br />i~artgagor ur,-der any end X11 0711 aF[d c~fl~ t+'~33~5 .3, ?a :- _ ~~:_#:. 3~: - --- £-__ =¥}a€
<br />rr~~3=- n~,a rn e,r,t €~,r rho c~m~ end a~~71- *-~~ ~~ ~}~s, r~~,z~ ~ ~ ~ _, ~_ -
<br />e1,tf71u1t in the Canditians of this ~rtgdgC', 3r~ti ~.~ nryrty0s~t' ~ ~•=. -= `u` ~`~~
<br />recover any Such payments when Sue ono payer ~~, ~~~ era=: ~.,.. ~ -;=i= _ -_ _
<br />This assignment is fa tcr~inatt= arPd uec~,:s~ r:uis .~n;3 void upon release of f;~ =_=_
<br />8. That the Mortgagor will keep the buildings upon said premises in go~ra repair,
<br />and neither commit nor permit waste upon said land. nor suffer the said premises to bt
<br />used for any unlawful purpose.
<br />9. That iF the premises, or any part thereof, be condem€?ed under the per of
<br />eminent domain, or ac4uired fora public use, the damages award, the prt~ceeds for
<br />taring of, or the c€?,~YSideratiQn for sucn acguiSiLtan, to the extent at tr+e full amount
<br />of indebtedness upon Lfiis mortgage and the note which is given to secure remaining sti~i;d!d,
<br />are hereby assigned by the Mortgagor to the Mortgagee, and shall b! paid forthwith Ea
<br />said Mortgagee to ~ applied by the latter an account of Ghe next maturing isLatlrFt
<br />of such indebtedness
<br />7'ne c4,tena_nts herein contained Shall bind, and the benefits and adva€rta~s shat=
<br />Insure ter, the respective heirs, executors, administrators, successt€rs an€t assio~s of
<br />tt-e parties hereto. k#henevFr used, the singular nurr~er shall include the plural, t
<br />plural the singular, and the use of any ender shalt be applicable Lo nil genders.
<br />Tht foregoing conditions. ail and singular, being performed according to their
<br />r€atural atu~ legal impart, this cCnveyante shall be void and said premises released a[ th+e
<br />expense of the Atortgagar; otherwise to be and remain in full farce and effect,
<br />
|